Heard on the Street: China needs more and better electric-vehicle batteries. Its solution? Welcome back previously blacklisted global battery giants.
China is opening up a key part of its electric-vehicle industry to global competition. The move could, paradoxically, make it stronger.
Last Friday, Beijing scrapped its list of certified EV battery manufacturers, paving the way for foreign suppliers to start selling in the country again. Getting on the list when it was introduced in 2015 qualified battery makers for government subsidies that account for a significant chunk of the price of an EV. No big foreign players made the grade.
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